Reserve Dollar

Rally

Bitcoin

Reserve

The cryptocurrency market experienced a surge today and major tokens showed positive growth. This upward trend occurred in parallel with the optimistic movements in the US stock markets.
The rally came after the US Federal Reserve announced a more moderate inflation rate for one of its primary data indicators. The U.S. Bureau of Economic Analysis reported that the personal consumption expenditures (PCE) price index rose 0.1% in June, up 2.5% from a year earlier. The annual rate fell slightly from 2.6% in May, confirming that inflation is steadily approaching the Fed's 2% annual target.
Related News: <a href="https://en.bitcoinsistemi.com/former-new-york-fed-president-who-previously-said-rates-should-remain-high-now-says-rates-should-be-lowered-immediately-at-the-next-meeting/" target="_blank" rel="noopener noreferrer nofollow">Former New York Fed President Who Previously Said "Rates Should Remain High" Now Says "Rates Should Be Lowered Immediately at the Next Meeting"</a>
Bitcoin has made a significant recovery, surpassing $67,000. According to analysts at Glassnode, this recovery has allowed Bitcoin to surpass its short-term cost base. This term refers to the average price at which short-term investors purchase Bitcoin assets. When the current Bitcoin price rises above this cost base, it shows that, on average, short-term holders are in a profitable position.
“The upward move provided much-needed relief for new investors, with over 75% of their supply back in profit,” Glassnode analysts added.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/why-did-bitcoin-soar-today-analysis-company-comments-the-rally-provided-major-relief/" rel="noopener noreferrer nofollow">Why Did Bitcoin Soar Today? Analysis Company Comments: “The Rally Provided Major Relief”</a>

Why Did Bitcoin Soar Today? Analysis Company Comments: “The Rally Provided Major Relief”

Bitcoin Sistemi EN

Other articles published on Jul 26, 2024

Marathon Digital Switches to Full HODL: What It Means for Bitcoin’s Future

Epic Altcoin Rally Predicted for August and September

Solana and XRP ETF Potential Approval Under Threat, Here's Reason

Top Investment Strategies to Maximize Your Gains This Altcoin Season

WazirX Launches Massive $23M Bounty to Track Down $234M Stolen Assets

Ethereum Spot ETFs Debut in U.S. Exchanges, Supported by Major Issuers

Join our free newsletter for daily crypto updates!